Ann: Pause in Trading, page-6

American software company Autodesk has had another nibble at ASX-listed Altium.Four weeks after its $38.50 a share indicative bid was rejected, it is understood Autodesk went back to Altium to talk about a deal at $40 with the same set of conditions attached.Altium chairman Sam Weiss. Louie DouvisThose conditions included customary conditions in Australian M&A - a request for formal due diligence and a board recommendation, should it be able to turn $40 into a binding offer.However $40 was still not enough for Altium and Autodesk was sent packing, again.Fund managers will be scratching their heads and wondering at what price Altium would be willing to deal.Altium chairman Samuel Weiss was contacted for comment on Monday morning.The company’s shares were at $27 prior to Autodesk’s indicative bid, althought Altium would note they were close to $40 less than one year ago.A $40 a share bid would value Altium’s equity at $5.25 billion.Goldman Sachs and King & Wood Mallesons are advising Altium, while Morgan Stanley is in Autodesk’s camp.